<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns="http://www.sec.gov/edgar/npx">
  <headerData>
    <submissionType>N-PX</submissionType>
    <filerInfo>
      <registrantType>RMIC</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000885709</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <investmentCompanyType>N-1A</investmentCompanyType>
      <periodOfReport>06/30/2025</periodOfReport>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000011750</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011751</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011755</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011758</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011760</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011761</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011762</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011763</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011764</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011765</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000011767</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000022678</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000025162</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000033934</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000042521</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000042522</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000045226</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000047032</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000076847</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <coverPage>
      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2025</reportCalendarYear>
      <reportingPerson>
        <name>PAYDEN &amp; RYGEL INVESTMENT GROUP</name>
        <phoneNumber>2138304293</phoneNumber>
        <address>
          <com:street1>333 S GRAND AVE</com:street1>
          <com:street2>40TH FL</com:street2>
          <com:city>LOS ANGELES</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>90071</com:zipCode>
        </address>
      </reportingPerson>
      <agentForService>
        <name>Payden &amp; Rygel</name>
        <address>
          <com:street1>333 SOUTH GRAND AVENUE</com:street1>
          <com:street2>40TH FL</com:street2>
          <com:city>LOS ANGELES</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>90071</com:zipCode>
        </address>
      </agentForService>
      <reportInfo>
        <reportType>FUND NOTICE REPORT</reportType>
      </reportInfo>
      <fileNumber>811-06625</fileNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
      </explanatoryInformation>
    </coverPage>
    <seriesPage>
      <seriesCount>19</seriesCount>
      <seriesDetails>
        <seriesReports>
          <idOfSeries>S000011750</idOfSeries>
          <nameOfSeries>PAYDEN CASH RESERVES MONEY MARKET FUND</nameOfSeries>
          <leiOfSeries>549300SI0EB26HO5RT16</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011751</idOfSeries>
          <nameOfSeries>PAYDEN LIMITED MATURITY FUND</nameOfSeries>
          <leiOfSeries>V3GJTCYEA6MK6IE7MU03</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011767</idOfSeries>
          <nameOfSeries>PAYDEN HIGH INCOME FUND</nameOfSeries>
          <leiOfSeries>HRM9UYZYRYZTR8VF0236</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000045226</idOfSeries>
          <nameOfSeries>PAYDEN STRATEGIC INCOME FUND</nameOfSeries>
          <leiOfSeries>5493002EUNEMBLRCKL57</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011763</idOfSeries>
          <nameOfSeries>PAYDEN GLOBAL FIXED INCOME FUND</nameOfSeries>
          <leiOfSeries>4FIJ4Q85YDRQV4HLK508</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011755</idOfSeries>
          <nameOfSeries>PAYDEN LOW DURATION FUND</nameOfSeries>
          <leiOfSeries>JBE5Q1GFOJSHZAIQ1855</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011758</idOfSeries>
          <nameOfSeries>PAYDEN U.S. GOVERNMENT FUND</nameOfSeries>
          <leiOfSeries>S05DF751G46NXE21NJ26</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011765</idOfSeries>
          <nameOfSeries>PAYDEN GNMA FUND</nameOfSeries>
          <leiOfSeries>34RFMR0QW4DZ1VIJL158</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011761</idOfSeries>
          <nameOfSeries>PAYDEN CORE BOND FUND</nameOfSeries>
          <leiOfSeries>PYZEQAJEH14U0OYKN091</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011760</idOfSeries>
          <nameOfSeries>PAYDEN CALIFORNIA MUNICIPAL SOCIAL IMPACT FUND</nameOfSeries>
          <leiOfSeries>549300ZIE79V6215MB30</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011764</idOfSeries>
          <nameOfSeries>PAYDEN GLOBAL LOW DURATION</nameOfSeries>
          <leiOfSeries>UZ2KMUE2JVI820YEJ784</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000011762</idOfSeries>
          <nameOfSeries>PAYDEN EMERGING MARKETS BOND FUND</nameOfSeries>
          <leiOfSeries>M4EUXO8K6TPQMCE8GH31</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000042522</idOfSeries>
          <nameOfSeries>PAYDEN EMERGING MARKETS CORPORATE BOND FUND</nameOfSeries>
          <leiOfSeries>549300YZ4XY581C25P40</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000025162</idOfSeries>
          <nameOfSeries>PAYDEN CORPORATE BOND FUND</nameOfSeries>
          <leiOfSeries>2EW633I7BZNQHGBO7W87</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000033934</idOfSeries>
          <nameOfSeries>PAYDEN EMERGING MARKETS LOCAL BOND FUND</nameOfSeries>
          <leiOfSeries>549300ZRY78UEWJB7K76</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000042521</idOfSeries>
          <nameOfSeries>PAYDEN FLOATING RATE FUND</nameOfSeries>
          <leiOfSeries>5493007MAZSH4J3PH219</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000047032</idOfSeries>
          <nameOfSeries>PAYDEN ABSOLUTE RETURN FUND</nameOfSeries>
          <leiOfSeries>549300Y00UG1BOK6J419</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022678</idOfSeries>
          <nameOfSeries>PAYDEN MANAGED INCOME FUND</nameOfSeries>
          <leiOfSeries>549300E8I3EQMB6RVA07</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000076847</idOfSeries>
          <nameOfSeries>PAYDEN SECURITIZED INCOME FUND</nameOfSeries>
          <leiOfSeries>5493006B73QWG4AQGF75</leiOfSeries>
        </seriesReports>
      </seriesDetails>
    </seriesPage>
    <signaturePage>
      <reportingPerson>PAYDEN &amp; RYGEL INVESTMENT GROUP</reportingPerson>
      <txSignature>SANDI BRENTS</txSignature>
      <txPrintedSignature>SANDI BRENTS</txPrintedSignature>
      <txTitle>CCO</txTitle>
      <txAsOfDate>08/28/2025</txAsOfDate>
    </signaturePage>
  </formData>
</edgarSubmission>
